Binance hackers are moving their stolen Bitcoins around

08 May, 2019
by Joeri Cant
Hack
Binance hackers are moving their stolen Bitcoins around

According to a team of researchers at the blockchain services company Coinfirm, the Binance hackers have been moving around their stolen Bitcoins, in an attempt to erase their tracks.

The blockchain services company Coinfirm, took to Twitter to reveal that they have been watching the ever-changing movements of the thousands of Bitcoin, which were stolen in the latest Binance hack.

According to their first tweet, around 4:11 am on May 8 the hacker(s) started moving the first load of Bitcoin to new addresses.

Coinfirm's analysis shows that the Binance hacker(s) first moved over 1214 Bitcoin, followed by another move of at least 1327 BTC's.

The Binance hack, which took the crypto community by surprise, as these major hacks tend to do,  took place at 5: 15:24 PM on May 7 when these hackers managed to steal over 7,000 Bitcoin from Binance into a number of smaller wallets in one single transaction.

The hackers apparently continue to move smaller amounts into smaller wallets.

Journalist and blockchain analyst Amy Castor, explained that breaking the transactions up into smaller and smaller amounts, makes it more and more difficult to track.

This is 'Money laundering 101', she tweeted.

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